The Office des Changes (OC) published its monthly newsletter in early June, indicating a sharp rise in both exports and imports. The newsletter shows that remittances and phosphates were the leading sources of foreign hard currencies up to the end of April this year.
The OC revealed that remittances reached 30.56 billion Moroccan dirhams ($3.05 billion) compared to 29.03 billion dirhams ($2.9 billion) in the same period last year, representing an increase of 5.3%. Similarly, sales of the national phosphate company, the Office Cherifien des Phosphates, increased sharply by 98.68% reaching 36.14 billion dirhams ($3.6 billion), representing 25% of total exports.
